France Factory Output Falls
France Factory Output Falls

France Factory Output Falls

France Factory Output Falls

France’s industrial production declined for the third straight month in May, defying economists’ forecast for an increase, the statistical office Insee showed Tuesday, RTTNews reported. Industrial output dropped a seasonally adjusted 0.2% month-over-month in May, slower than the 0.5% fall in April. Meanwhile, it was expected to rise by 0.6%. Manufacturing output contracted 0.6% in May versus the expected climb of 0.5%. Data also showed that construction output advanced 1.9% over the month, while output in the mining and quarrying sector grew by 1.9%. In three months to May, industrial output declined 0.8% from the previous three months and manufacturing production registered a drop of 0.5%. President Emmanuel Macron has promised to overhaul the French welfare state and cut public spending, telling MPs at the Palace of Versailles on Monday that his only ideology is to strive for “French greatness”. The pro-business, centrist leader, who beat the far-right candidate Marine Le Pen in an election a year ago, denied seeking to help the wealthy at the expense of the poor as he sought to shake off accusations that he is a “president of the rich”.

Short URL : https://goo.gl/FrUv1m
  1. https://goo.gl/aHDBP3
  • https://goo.gl/a5Y69L
  • https://goo.gl/yVWxbF
  • https://goo.gl/znaaZw
  • https://goo.gl/FRZFSL

You can also read ...

Business confidence fell to its lowest level since August 2013 and around 7% of companies expected a contraction.
According to data from the International Monetary Fund in...
China Warned of Ballooning SOEs
Former chief of the World Bank Robert Zoellick cautioned China...
Shrinking unemployment in the US, Japan and the eurozone finally forces companies  to lift wages to retain and attract staff.
Workers in the world's richest countries are getting their...
New Zealand Q2 GDP Growth Picking Up
New Zealand’s economic growth is expected to have accelerated...
Saudi Sovereign Fund Secures $11 Billion Loan
Saudi Arabia's sovereign wealth fund said Monday it had...
Lira Eases Against Dollar
Turkey’s lira weakened against the dollar on Monday as...
By 2025 more than half of all current workplace tasks  will be performed by machines.
Robots will handle 52% of current work tasks by 2025, almost...
UK Economy Will Shrink Without Brexit Deal
Britain’s economy will shrink if the country leaves the...

Add new comment

Read our comment policy before posting your viewpoints